Trade talks with US favour India: Piyush Goyal

Addressing a group of reporters, Commerce and Industry Minister Shri Piyush Goyal on Saturday said that India’s trade negotiations with the US would open more opportunities for exports. “Negotiations with the US are to India’s advantage because we have a trade surplus (with the US)… it opens up more opportunity for our exports in a big way,” he said.

He opined that Indo-US talks would be a big win for the country, when Indian people can benefit from trade and pointed out the areas that New Delhi is focusing on: innovation, research and development, and better technologies. The minster also stated that India should look at a larger engagement with the US, which has huge imports and a huge potential for many of Indian products like textiles, gem and jewelry, chemicals, medicine, and pharmaceuticals.

He also made passing remarks on the impact of Coronavirus on the economy as India is quite insulated and the country’s interdependency is lesser than other parts of the world.